Okay I can't write alot in this post but I will tell you I'm going to the bank on Wensday to get some small business funding to help cut down the 5 day wait time to ship items out to customers. if you are an investor it is your duty to help spell check and give constructive criticism to this essay to help bankers understand how bitcoins work and why i need then why they are cool, etc ,etc why they profitable ,etc ,etc

anyways here is the paste bin let me know if there is anything to improve on

Thanks for that quick response, and the multiple corrections!ive thought about using glbse for high volume of cash i think the issue is if value in bitcoins go back up anytimei have to pay more to payback all the btc. So i could potentially lose money going that route.

I suspect banks will want to know how you are handling know-you-customer laws designed to discourage money laundering and terrorist financing. The obvious (possibly wrong) answer is that it is not "cash" recognized by any government, so does not have to be reported (though apparently jewlery (over a certain value) has to be reported in Canada).

You may also point out that you have sales records with shipping addresses if any authorities come asking questions. The annoymized bitcoin transaction record is also public in the block-chain. Without pinning down exactly what bitcoin is, it may be difficult to know if there are any special regulations you have to follow.

I suspect banks will want to know how you are handling know-you-customer laws designed to discourage money laundering and terrorist financing. The obvious (possibly wrong) answer is that it is not "cash" recognized by any government, so does not have to be reported (though apparently jewlery (over a certain value) has to be reported in Canada).

You may also point out that you have sales records with shipping addresses if any authorities come asking questions. The annoymized bitcoin transaction record is also public in the block-chain. Without pinning down exactly what bitcoin is, it may be difficult to know if there are any special regulations you have to follow.

Thats some good advice! I Already have a print out of all my sales records ready to show them but i didnt think to explain about the blockchain and its integrity!

P5: Cheaper In Bitcoins is an online e-commerce website that provides a wide variety of products to exclusivelyexclusively to the Bitcoin community and only accept Bitcoins as the only currency for payment of products. only accepts Bitcoins as the currency for payment of products.

... If I wanted to purchase an item that can only be exclusively found in EuropeOR ... If I wanted to purchase an item that can only beis exclusively found in Europe

... there are exchange costs, withdrawl fees, and taxation ...

... can be sent instantly with minimum transaction fees, even high priced transactions are only a few cents(USD).

P12: ... times out of ten itsit is the merchants fault ...

... as starts upstart-ups often fail ...

P16: Cheaper In Bitcoins is a very lightweight company, Wecompany; we only need ...

P19: ... confirms the funds are theirthere. (Or were you saying confirms the funds are theirs?)

P24: {missing punctuation at end of final sentence.}

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Overall a very nice explanation of your setup.

Have you considered just getting 200 btc from the GLBSE and converting it to USD, and using that as your slush instead of asking for credit from a bank?

P5: Cheaper In Bitcoins is an online e-commerce website that provides a wide variety of products to exclusivelyexclusively to the Bitcoin community and only accept Bitcoins as the only currency for payment of products. only accepts Bitcoins as the currency for payment of products.

If you're not excited by the idea of being an early adopter 'now', then you should come back in three or four years and either tell us "Told you it'd never work!" or join what should, by then, be a much more stable and easier-to-use system. - GAIt is being worked on by smart people. -DamienBlack

I'll be posting another paste bin with the corrections and I'd also like to note that I've issued a lot more assets for GLBSE to help with the Dwolla integration as per requested by the current bond investors.

Alright went to the bank asked for a line of credit and with out taking any of my information down she asked "How long ive been in bussiness". I told her I went public on september 1st and made X amount of profit in the first two weeks. She then stated that it takes at least a year of building a good enough track record to accepted and then politly stated that I could try to apply but theres no garuntee that it will be accepted. After I asked to look a my credit score, she she te best she could do was 6 months.

So basically what this means is almost nothing. I will use GLBSE for funding the reserve to make shipping proccessing times shorter. All this means in the end is that investors will make alot of momey instead of the bank. Which is how it should be.....